Chemical Leasing: An Innovative Model for the Petrochemical Industry
Updated: Jul 1
About LCY Chemical Corporation
With offices, plants and centers all over the world, LCY Chemical Corporation started within the wood industry before shifting to the plywood industry where they had to tackle the issue of adhesives and went on to chemical engineering. Additionally, LCY collaborates with water disposal industry and has started using MBR (Membrane Bioreactor) innovative technology.
From IPA to E-IPA Recycle
Within the last 20 years, LCY has changed from the traditional industrial IPA (Isopropyl Alcohol) to E-IPA (Electronic Isopropyl Alcohol) for the IC, LCD, LED and photoelectric industries. At first, LCY would sell their E-IPA to high-tech businesses and would let waste treatment companies dispose of the waste. In the last ten years, due to customers being unhappy with their disposal process, LCY decided to reclaim the diluted E-IPA. Now, IPA recycling and MBR water treatment technologies were used to turn wastewater back to fresh water and IPA, therefore achieving a semi-closed loop.
Chemical Leasing - the Way to Circular Economy?
LCY is looking into the idea of “chemical leasing.” This could potentially be a win-win situation, as it would not only reduce their costs but also their clients’ ones. The original concept of chemical leasing is that a company like LCY would be providing “service for buyer.” Therefore, optimizing practice by using less chemicals and reducing risks for all parties. A case study from UNIDO, demonstrated that in practice, the cost to clean two million tubes is a hundred thousand USD but if chemical leasing is in place, the total would come to eighty thousand USD - a twenty thousand USD less. Overall, chemical leading’ would be beneficial to the environment, society and the economy.
- There are two main parts for circular economy to function: firstly, to listen to the needs of customers; secondly, to invest in research and innovation.
- Chemical leading would be beneficial to the environment, society and the economy.
*This is speech summary from the Link and Loop Conference which was edited and compiled by the Link and Loop team. It was written and reported with the best available knowledge from the talk. There may be information discrepancies. Please contact the speaker for clarifications.